Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


Investment opportunity in Ruataniwha Water Storage Scheme

Media Release

11 March 2014

Investment opportunity in Ruataniwha Water Storage Scheme

Qualified Hawke’s Bay investors are being given the opportunity to express their interest in investing in the Ruataniwha Water Storage Scheme.

Hawke’s Bay Regional Investment Company Ltd (HBRIC Ltd) has released a Preliminary Information Memorandum (PIM) calling for expressions of interest from qualified locals interested in a potential investment in the water storage scheme.

Interested parties are not being asked for money now. They have until the end of April to indicate their interest in the proposal, and will then be given detailed information on the investment opportunity via an Information Memorandum which will include modeled cashflows and further specific information that is currently commercially sensitive. The Information Memorandum is due for release in May 2014.

The Offer is for a minimum investment of $50,000 and will only be open to eligible investors who:

• have signed a water user agreement for water from the scheme; or

• are landowners within the Ruataniwha Water Storage Scheme irrigation footprint; or

• are Hawke’s Bay resident individuals or businesses,

and who are “eligible persons” for purposes of the Securities Act 1978.

Generally speaking, under the Securities Act, an “eligible person” must be certified as either “wealthy” (i.e., having net assets of at least $2,000,000 or having had an annual gross income of at least $200,000 for each of the last two financial years) or is experienced in the industry or experienced in investing money.

HBRIC Ltd Chairman Andy Pearce says for farmers who intend contracting water from the scheme, this is an opportunity to register an interest in an investment that can provide a natural hedge against water price changes.

“This is also an opportunity for individuals and businesses in Hawke’s Bay to register an interest in securing an investment in a large local project, which is anticipated to drive significant regional growth,” says Dr Pearce.

The Ruataniwha Water Storage Scheme is a proposed project to build and operate a dam, water storage and distribution infrastructure designed to deliver reliable irrigation to an expected 20,000 - 30,000 hectares of farmland in the Ruataniwha Plains in Hawke’s Bay.

The PIM is available on the Ruataniwha Water Storage Scheme page at www.hbrc.govt.nz


ENDS


© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Housing Policy: Auckland Densification As Popular As Ebola, English Says

Finance Minister Bill English said calls by the Reserve Bank Governor for more densification in Auckland’s housing were “about as popular in parts of Auckland as Ebola” would be. More>>

ALSO:

Crown Accounts: NZ Government Deficit Smaller Than Expected In First Half

The New Zealand government's operating deficit was smaller than expected in the first six months of the financial year, as the consumption and corporate tax take rose ahead of forecast in December, having lagged estimates in previous months. More>>

ALSO:

Fruit & Veg Crackdown: Auckland Fruit Fly Find Under Investigation

The Ministry for Primary Industries (MPI) is investigating a find of a single male Queensland fruit fly in a surveillance trap in the Auckland suburb of Grey Lynn... MPI has placed legal controls on the movement of fruit and some vegetables outside of a defined circular area which extends 1.5km from where the fly was trapped in Grey Lynn. More>>

ALSO:

Scoop Business: Westpac NZ Reaches $2.97M Swaps Settlement

Westpac Banking Corp’s New Zealand unit has agreed to pay $2.97 million in a settlement with the Commerce Commission over the way the bank sold interest rate swaps to farmers between 2005 and 2012. More>>

ALSO:

Going Dutch: Fonterra Kicks Off $144M Partnership With Dutch Cheese Maker

Fonterra Co-operative Group, the world’s largest dairy exporter, has commissioned a new dairy ingredients plant in Heerenveen, in the north of the Netherlands, its first wholly-owned and operated ingredients plant in Europe. More>>

ALSO:

Scoop Business: NZ Retail Sales Beat Estimates

New Zealand retail sales rose more than expected in the fourth quarter, led by vehicle-related transactions, food and beverages, adding to evidence that cheap credit and a growing jobs market are encouraging consumers to spend. More>>

ALSO:

Delivery Cuts Go Ahead: 'Government Money Grab' From NZ Post

"It's a money grab by the Government as the shareholder of New Zealand Post" says Postal Workers Union advocate Graeme Clarke about the changes announced by NZ Post. More>>

ALSO:

Get More From Scoop

 
 
Standards New Zealand

Standards New Zealand
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news